Noam Chomsky
Contours of Global Order: Domination, Stability, Security in a Changing World: the rise of Xenophobia in the West
In Adam Smith’s defense, it should be added that he recognized what would happen if Britain followed the rules of sound economics – now called “neoliberalism.” He warned that if British manufacturers, merchants, and investors turned abroad, they might profit but England would suffer. But he felt that they would be guided by a home bias, so as if by an invisible hand England would be spared the ravages of economic rationality. The passage is hard to miss. It is the one occurrence of the famous phrase “invisible hand” in Wealth of Nations. The other leading founder of classical economics, David Ricardo, drew similar conclusions, hoping that home bias would lead men of property to “be satisfied with the low rate of profits in their own country, rather than seek a more advantageous employment for their wealth in foreign nations,” feelings that “I should be sorry to see weakened,” he added. Their predictions aside, the instincts of the classical economists were sound.
Noam Chomsky said in this lecture that the "INVISABLE HAND" gets one mention in rift.
As I remember, it was in relation to trade between nations in the give and take Adam Smith.
When a trade occurs there's decrease in resources of the party of the first part of equations.
An increase in resources for party of the second part and ergo increased power to factions.
Parties of third and forth parts are consumers of goods as traded then job is to refine goods.
Raw materials minerals, spices, fleeces, hides usually turn into useful items for worker foods.
Which are then traded inside that nations boundaries or offshore to pay debts all takes time.
Questions concerning trade balances give economists bad cases of agroraphobia the rhyme.
Whatever one may say about economics the subject is still in a theoretical stage unimproved.
The parties of first and second part seek to control the flow out/in their borders not unmoved.
Regards, NO 1/2 trader/partner depend on NO 3/4 as primary/secondary article producers.
Who in turn are dependant on the end users ability to PAY for they are their CUSTOMERS.
NO END USER ergo NO TRADE OCCURS, so the problem is sharing/caring and fair/trade.
The party member of the first part is popularly known as anglo/american world empire the raid.
Appologetics in this case as displayed by the terms of use/abuse their conditions the attributes.
NO MAN IS AN ISLAND ENTIRE TO HIMSELF THE INVISABLE HANDS TRIBUTES.
The use of energy to run machinery to turn wheels to beating eggs of frothy eggy weggy bubbles,
Throw in the flour throw in the milk a pinch of coconut a few seseme seeds into the oily fumbles,
Tip the jug contents into the pan wowmom lOOK a cOOK bOOk nOw we can make pancakes.
Turning turns wider gyre of falcon not hearing falconer centre cannot hold convictions cornflakes?
Positive feedback loops where parties of first and second part pat each others backs slip slop slap.
Negative feedback loops whistleblowers show/tell in classrooms story backbiters in bubble wrap?
At home democracy is good in trading partners dictators are good that kind of political hypocrisy!
Putting members up on pedastals is no different to worhip of best in votes cast net of meritocracy.
LET THE BUYER BEWARE OF THE SELLER and you accept united states paranormal activity?
We in this vacuum flask tiny tea leaf in boiling hot water having our essences extracted in defectivity.
"God promised NOAH there would not be another flood" powers contemplations flaming outcomes.
To act as brothers not motherfuckers throwing verbs like missiles bashing hammers on their thumbs.
ART
P.S. Subject to revision please excuse my french.
1 comment:
end line could end with tom thumb for a stronger effect?
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